WORLD RESOURCES INSTITUTE (FMO-50743)

Countries
  • Paraguay
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Investment Amount (USD)
$ 0.16 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.14 MLN
Converted using 2017-11-03 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 24, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

WHO IS OUR CLIENT

The World Resources Institute will act as FMO's contracting party, undertaking work that will benefit in the first instance FMO's Financial Sector clients in Paraguay, but also the global financial sector.

FUNDING OBJECTIVE

The aim of this funding is to support the further development of Global Forest Watch (GFW) through creation of an application - GFW Finance - designed for the needs of financial institutions as they relate to environmental and social (E&S) risks relating to forests. It will provide near-real time information about forests, not only in Paraguay, but globally. GFW Finance will evaluate risks in forest commodity investments, identify potential E&S impacts, and track performance to meet internal and external reporting commitments, helping financial institutions focus their resources on what will have the greatest impact in their forest-related commodity investments and assets. It is also a workflow tool to support the process.

WHY WE FUND THIS PROJECT

This project is highly strategically relevant for FMO's strategy in Paraguay as it lifts the quality of E&S management in the country's financial sector. There is a good fit with FMO role as a sector-wide change agent in a country with urgent and challenging E&S dilemmas and few local incentives for improved E&S performance. The project addresses a pressing need for accurate and timely data for decision making and client engagement, and furthermore has utility beyond Paraguay.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl
Anna van Saksenlaan 71
2593 HW, The Hague
The Netherlands

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works